PK0-005 Practice Test 23 — 15 Questions

Question 1

A steering committee is reviewing project performance. Which of the following is a key responsibility of the steering committee?

Accepted Answer

Approving changes to the project scope. The steering committee provides governance, approves major changes, and ensures alignment with business objectives.

Answer

Assigning daily tasks to team members

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Developing the project schedule

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Resolving technical issues

Question 2

A project sponsor asks for a document that outlines the high-level scope, objectives, and key stakeholders of a new project. Which document should the project manager provide?

Accepted Answer

Project charter. The project charter is the correct document because it formally authorizes the project, defines the high-level scope, objectives, and key stakeholders, and is issued by the project sponsor. It serves as the foundational agreement between the sponsor and the project manager, aligning with PMI's PMBOK Guide for initiating a project.

Answer

Scope statement

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Project management plan

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Work breakdown structure

Question 3

During project execution, a team member identifies a problem that has already occurred and is affecting the project schedule. The project manager should document this in which of the following?

Accepted Answer

Issue log. An issue log is used to document and track problems that have already occurred and are impacting the project. Since the problem is affecting the schedule, it is an active issue that needs to be recorded and managed. The issue log helps the project manager monitor and resolve issues.

Answer

Lessons learned register

Answer

Change log

Answer

Risk register

Question 4

A project is in the execution phase, and the project manager receives a change request to add a new feature that is not in the scope statement. The change request has been approved by the change control board. What must the project manager do next?

Accepted Answer

Update the project management plan and baseline to reflect the approved change.. Once the change control board (CCB) approves a change request, the project manager must formally integrate the approved change into the project by updating the project management plan and the associated baselines (scope, schedule, cost). This ensures that all future project work, performance measurement, and reporting are aligned with the new approved scope, maintaining the integrity of the project's control processes as defined in the PMBOK Guide.

Answer

Conduct a meeting with stakeholders to discuss the impact of the change.

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Defer the change to the next project phase to minimize disruption.

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Inform the development team to continue with the original scope and ignore the change.

Question 5

During the planning phase, a team member estimates a task duration as 5-7 days based on a similar past project. Which estimating technique is being used?

Accepted Answer

Analogous estimating. Analogous estimating uses historical data from similar projects. Parametric uses statistical relationship, three-point uses optimistic/pessimistic/most likely, and bottom-up aggregates detailed estimates.

Answer

Parametric estimating

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Bottom-up estimating

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Three-point estimating

Question 6

A project manager is evaluating a change request that would increase the project cost by 10% but reduce schedule by 15%. The change control board approves the change. What should the project manager update?

Accepted Answer

Project plan and baselines. When a change request is approved, the project manager must update the project plan and baselines (scope, schedule, cost) to reflect the approved change. Baselines are the approved versions of the plan against which performance is measured, so any approved change that alters cost or schedule requires baseline updates. This ensures accurate tracking and reporting going forward.

Answer

Risk register

Answer

WBS

Answer

Issue log

Question 7

During project execution, a stakeholder requests a change that will increase costs. Which document should the PM update first?

Accepted Answer

Change request form. When a stakeholder requests a change that increases costs, the project manager must first document the change using a change request form. This initiates the formal change control process, ensuring the request is evaluated for impact on scope, schedule, budget, and quality before any updates are made to other documents. The change request form is the primary artifact for capturing and tracking proposed changes in project management.

Answer

Communication plan

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Project charter

Answer

Risk register

Question 8

During project execution, a stakeholder requests a new feature that was not included in the original scope. The project manager initiates a change request. What is the next step in the integrated change control process?

Accepted Answer

Evaluate the impact on the triple constraint. After a change request is initiated, the next step in integrated change control is to evaluate the impact on the triple constraint (B) — scope, time, and cost. This assessment determines whether the change is feasible and what adjustments are needed. Only after evaluation should the request go to the Change Control Board (CCB) for approval.

Answer

Update the project plan immediately

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Reject the request to prevent scope creep

Answer

Send the request directly to the Change Control Board

Question 9

During a project, a key stakeholder requests an additional feature that was not in the original scope. The project manager logs a change request and evaluates that the change will increase the project cost by 5% and delay the schedule by 2 weeks. After the change control board (CCB) approves the request, what is the project manager's NEXT step?

Accepted Answer

Update the project plan and baselines. After the CCB approves a change request, the project manager must update the project management plan and baselines (scope, schedule, cost) to reflect the approved change before implementation proceeds. This ensures the plan remains the authoritative reference and that performance is measured against the revised baseline. Only after baselines are updated should the change be implemented and communicated.

Answer

Implement the change immediately

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Submit the change to the project sponsor

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Inform the team of the change

Question 10

What is the primary purpose of a Work Breakdown Structure (WBS) in project planning?

Accepted Answer

To break down the project scope into smaller, manageable components. A WBS decomposes the project scope into manageable work packages, forming the basis for estimating, scheduling, and controlling work.

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To identify project risks

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To create the project schedule

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To assign resources to tasks

Question 11

A company is considering a project with an initial investment of $100,000 and expected annual cash inflows of $30,000 for 5 years. The discount rate is 10%. What is the approximate Net Present Value (NPV)? (Present value of annuity factor for 5 years at 10% is 3.791)

Accepted Answer

$13,730. NPV discounts future cash inflows back to present value and subtracts the initial investment. Using the annuity factor: PV of inflows = $30,000 × 3.791 = $113,730. NPV = $113,730 − $100,000 = $13,730, which is positive, meaning the project adds value at a 10% discount rate.

Answer

$50,000

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-$13,730

Answer

$150,000

Question 12

A project manager notices that actual costs are significantly higher than planned for the first two months of a six-month project. The project is critical to the organization, and the sponsor is concerned about the budget. What is the BEST course of action for the project manager?

Accepted Answer

Conduct a variance analysis, identify the root cause, and present corrective options to the sponsor.. The project manager must first understand why costs are overrunning before taking action. Conducting a variance analysis and root cause analysis (e.g., using earned value management metrics like CV and CPI) provides data-driven insights. Presenting corrective options to the sponsor aligns with the PMI's principle of proactive communication and evidence-based decision-making, which is critical for a project of high organizational importance.

Answer

Delay reporting the overrun until the next status meeting to gather more data.

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Request additional budget from the sponsor to cover the overrun.

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Reduce project scope to bring costs back in line with the original budget.

Question 13

A project manager is developing the project charter. Which of the following should be included as a key element of the project charter?

Accepted Answer

High-level budget and schedule. The project charter is a high-level document that formally authorizes the project and gives the project manager authority to apply resources. It typically includes the project purpose, measurable objectives, high-level requirements, high-level risks, summary budget, summary milestone schedule, and stakeholder list. High-level budget and schedule are core charter elements because they establish the initial financial and time boundaries.

Answer

Detailed risk response plan

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Work Breakdown Structure

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Communication management plan

Question 14

During project planning, the project manager needs to estimate the cost of each work package. Which tool or technique is best suited for this?

Accepted Answer

Bottom-up estimating. Bottom-up estimating is best suited for estimating the cost of each work package because it involves decomposing the work package into its lowest-level components (activities or tasks) and estimating each one individually. This provides a high level of accuracy by aggregating detailed estimates from the team members who will perform the work, making it ideal for project planning when detailed scope definition is available.

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Parametric estimating

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Three-point estimating

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Analogous estimating

Question 15

A project manager is evaluating the project's performance using EVM. PV = $50,000, EV = $45,000, AC = $55,000. Which of the following is true?

Accepted Answer

The project is over budget and behind schedule.. The project is over budget and behind schedule because the Cost Performance Index (CPI) is EV/AC = 45,000/55,000 = 0.818, which is less than 1, indicating over budget. The Schedule Performance Index (SPI) is EV/PV = 45,000/50,000 = 0.9, which is less than 1, indicating behind schedule. Therefore, option D is correct.

Answer

The project is under budget and ahead of schedule.

Answer

The project is over budget but ahead of schedule.

Answer

The project is under budget but behind schedule.